MIRA INFORM REPORT

 

Report No. :

337726

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SCHILLER HEALTHCARE INDIA PRIVATE LIMITED

 

 

Registered Office :

Advance House, 2nd Floor, Makwana Road, Off Andheri Kurla Road, Marol Naka, Andheri (East), Mumbai – 400059, Maharashtra

Tel. No.:

91-22-61523333

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.10.1997

 

 

Com. Reg. No.:

11-111307

 

 

Capital Investment / Paid-up Capital :

Rs.65.899 Million

 

 

CIN No.:

[Company Identification No.]

U33110MH1997PTC111307

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS22847G

 

 

PAN No.:

[Permanent Account No.]

AADCS5091B

 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer medical equipments.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound and healthy. Profitability of the company is fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long  term rating = BB+

Rating Explanation

Inadequate degree of safety and high credit risk. 

Date

May 19, 2014

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

May 19, 2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

INFORMATION DECLINED BY

 

Name :

Mr. Mangesh

Designation :

Accounts Department

Contact No.:

91-22-6152333328263520

Date :

20.08.2015

 

 

LOCATIONS

 

Registered Office / Corporate Office:

Advance House, 2nd Floor, Makwana Road, Off Andheri Kurla Road, Marol Naka, Andheri (East), Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-6152333328263520

Fax No.:

91-22-29209142

E-Mail :

mail@schillerindia.com

Website :

http://www.schillerindia.com

 

 

Factory 1 :

408/5-2, Ground Floor, 7th Main, 2nd Block, Jayanagar, Bangalore – 560 011, Karnataka, India

Tel. No.:

91-80-26564045/ 4959

Fax No.:

91-80-26564045

E-Mail :

seshadri@schillerindia.com

 

Factory 2 :

No.17, Pondy Villupuram Road, Balaji Nagar, Oulgaret, Pondicherry - 605 010, Tamilnadu, India

Tel No.:

91-413-2291160/ 2949/ 3098599

Fax No.:

91-413-2291240

Email :

schpon@satyam.net.in

hmohan@schillerindia.com

venkatesh@schillerindia.com

 

 

Branch Office / Warehouse:

Plot No 84 And 85, 2nd Cross, Reddiyarpalayam, Ajiz Nagar, Puducherry – 605005.

 

Branch Office :

Located At :

 

·         Ahmedabad

·         Bangalore

·         Kolkata

·         Chennai

·         Cochin

·         Hyderabad

·         New Delhi

·         Pondicherry

·         Pune

 

 

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Vikram Dhirajlal Sanghvi

Designation :

Managing Director

Address :

Flat No. 6, Shangri la, 27-A, Carmichael Road, Mumbai – 400026, Maharashtra,  India

Date of Birth/Age :

26.08.1959

Date of Appointment :

15.10.1997

PAN No.:

AAIPS0291D

DIN No.:

00137309

 

Name :

Mr. Pravin Ratilal Gandhi

Designation :

Director

Address :

19 Fulchand Nivas, 5th Floor, Chowpatty Sea Face, Mumbai – 400007, Maharashtra,  India

Date of Birth/Age :

29.06.1944

Date of Appointment :

15.10.1997

DIN No.:

00694153

PAN No.:

AACPG5503A

 

 

Name :

Mr. Dominik Doppler

Designation :

Director

Address :

IM Kindli / Haus Waldegg, Ch-6442, Gersau, Ch6442, Switzerland

Date of Birth/Age :

16.10.1968

Date of Appointment :

29.05.2001

DIN No.:

01587640

 

 

Name :

Mr. Alfred Eugen Schiller

Designation :

Director

Address :

Steinenstueckiweg 4, Ch8914, Aeugst Am ALBIS, CH8914, Switzerland

Date of Birth/Age :

08.04.1943

Date of Appointment :

26.04.1998

DIN No.:

01642021

 

 

KEY EXECUTIVES

 

Name :

Mr. Mangesh

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Vikram Dhirajlal Sanghvi

 

2028

Schiller AG., Switzerland

 

405545

Pravin R. Gandhi, Vikram D. Sanghvi

 

2534

Nandita P. Gandhi and  Pravin R. Gandhi

 

4056

Radhika P. Gandhi and Pravin R. Gandhi

 

19153

Kunal P. Gandhi and Pravin R. Gandhi

 

19152

Sarla D. Sanghvi and Vikram D. Sanghvi

 

6880

Pravin R. Gandhi and Nandita P. Gandhi

 

20366

Amla D. Sanghvi and Sarla D. Sanghvi

 

1

Neeta V. Sanghvi and Vikram D. Sanghvi

 

2

Aditi V. Sanghvi and Neeta V. Sanghvi

 

1

Neha V. Sanghvi and Neeta V. Sanghvi

 

1

Nayana T. Currim bhoy and Vikram D. Sanghvi

 

2

Vikram D. Sanghvi and Neeta V. Sanghvi

 

53806

Yashraj Sanghvi and Charmi Y Sanghvi

 

47549

Neha Sanghvi and Vikram Sanghvi

 

1

Anuradha Sanghvi and Yashraj Sanghvi

 

405

Priya Sanghvi and Yashraj Sanghvi

 

244

Nirupama Sanghvi and Yashraj Sanghvi

 

405

Vikram Sanghvi and Neha Sanghvi

 

2

Amla Sanghvi and Vikram Sanghvi

 

2

Jayshree K Gandhi, Bansri M Bux and Janaki V Patel

 

48831

Bansri M Bux, Munawar H Bux

 

6948

Janaki V Patel, Vikas C Patel

 

6948

Priya J Madhavdas, Yashraj G Sanghvi

 

162

Yashraj G Sanghvi, Nirupama G Sanghvi

 

13962

Vikram Sanghvi – Partner Holding on behalf of R Ratilal and Company, India

 

4

Total

 

658990

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

61.54

Directors or relatives of Directors

38.46

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer medical equipments.

 

 

Products :

Item Code No.

Product Description

90189099

Instruments and Appliances used in

medical, surgical, dental or veterinary

sciences, including scientifigraphic

apparatus, other electromedical apparatus and sight testing instruments

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • HDFC Bank Limited,  HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Banker Name

Bank of India

Branch Address

Mumbai Main Branch, 70/80, M. G. Road, Fort, Mumbai - 400023, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee term loans from banks

(Exclusive and specific charge on asset acquired under the loan for building at Andheri, also guaranteed by few Directors and their relatives)

45.750

55.500

SHORT TERM BORROWING

 

 

Working capital loans from banks

72.000

72.000

Loans repayable on demand from banks

138.645

105.710

Foreign currency term loans from banks

0.000

45.248

Total

256.395

278.458

 

Auditors :

 

Name :

M. G. Ved and Company

Chartered Accountants

Address :

209 Sumer Kendra, 2nd Floor, Behind Mahindra Towers, Pandurang, Budhkar Marg Worli,  Mumbai – 400018, Maharashtra,  India

PAN N Income-tax PAN of auditor or auditor's firm :

AAFPK2187H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company:
  • Schiller AG, Switzerland

 

 

Associate:
  • R. Ratilal and Company
  • Schiller Medical SAS
  • Schiller Asia Pacific sdn Bhd
  • Schiller Latine America Inc
  • Schiller D.O.O.(Serbia)
  • Ergosana GMBH

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

658990

Equity Shares

Rs.100/- each

Rs. 65.899 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

658990

Equity Shares

Rs.100/- each

Rs. 65.899 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

65.899

50.689

50.689

(b) Reserves & Surplus

258.710

124.744

104.459

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

324.609

175.433

155.148

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

45.750

55.500

64.500

(b) Deferred tax liabilities (Net)

3.041

4.268

4.403

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.219

1.014

0.682

Total Non-current Liabilities (3)

50.010

60.782

69.585

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

241.695

296.458

165.491

(b) Trade payables

202.510

159.423

68.695

(c) Other current liabilities

52.462

49.266

31.303

(d) Short-term provisions

63.774

43.859

28.721

Total Current Liabilities (4)

560.441

549.006

294.210

 

 

 

 

TOTAL

935.060

785.221

518.943

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

118.765

120.446

124.361

(ii) Intangible Assets

3.365

2.146

2.339

(iii) Capital work-in-progress

0.000

0.750

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

6.637

6.293

7.425

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

128.767

129.635

134.125

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

346.573

216.379

145.077

(c) Trade receivables

378.060

366.467

205.314

(d) Cash and cash equivalents

40.409

47.148

9.927

(e) Short-term loans and advances

32.801

20.853

16.399

(f) Other current assets

8.450

4.739

8.101

Total Current Assets

806.293

655.586

384.818

 

 

 

 

TOTAL

935.060

785.221

518.943

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

1075.146

864.200

552.064

 

Other Income

4.682

2.717

3.322

 

TOTAL

1079.828

866.917

555.386

 

 

 

 

 

 

EXPENSES

961.693

787.424

509.326

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

118.135

79.493

46.060

 

 

 

 

 

 

FINANCIAL EXPENSES

39.753

37.510

28.718

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

78.382

41.983

17.342

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

8.720

8.727

7.633

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

69.662

31.243

9.709

 

 

 

 

 

 

TAX

21.773

10.365

3.507

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

47.889

20.878

6.202

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Proposed Dividend & Tax on Dividend

0.771

0.593

0.589

 

Balance Carried to the B/S

47.118

20.285

5.613

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

76.833

90.417

13.690

 

Commission Earned

79.331

10.404

11.307

 

TOTAL EARNINGS

156.164

100.821

24.997

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

72.67

41.12

12.24

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

9.000

9.000

9.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

22.886

(8.712)

(4.015)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.45

2.42

1.12

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

10.99

9.20

8.34

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.45

3.98

1.87

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.21

0.18

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.91

2.06

1.54

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.44

1.19

1.31

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

50.689

50.689

65.899

Reserves & Surplus

104.459

124.744

258.710

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

155.148

175.433

324.609

 

 

 

 

long-term borrowings

64.500

55.500

45.750

Short term borrowings

165.491

296.458

241.695

Current maturities of long-term debts

9.000

9.000

9.000

Total borrowings

238.991

360.958

296.445

Debt/Equity ratio

1.540

2.058

0.913

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

552.064

864.200

1075.146

 

 

56.540

24.409

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

552.064

864.200

1075.146

Profit

6.202

20.878

47.889

 

1.12%

2.42%

4.45%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

FINANCIAL PERFORMANCE 2013-14:

 

The year’s excellent growth and achievements for the company. It is indeed a privilege to share the results with you. First of all, the financial year 2013-14, the company has clocked the highest ever turnover of Rs.1079.800 Million. This they could achieve in spite of highly volatile foreign currency market and the unprecedented, slowdown in the world economy. The company has achieved a remarkable growth in income from sales and service together of 24% as compared to previous year where they made total turnover of Rs.866.900 Million. The company has recorded 48.61% growth in EBITA over previous year.

 

The Profit before tax has more than doubled to Rs.69.660 Million, higher by Rs.38.417 Million thereby showing 123% over 2012-13. After making provisions for income tax, tax adjustments etc, the net profit available for appropriations (PAT) stands at Rs.47.887 Million, which is Rs.27.009 Million higher than last year, recording 129% growth. This increase in Profit after Tax is due to growth in the direct commission turnover. However, due to an increase in direct sales to government agencies, where working capital cycle have expanded raising liquidity issue. The company has taken corrective steps to improve Working capital Cycle, as well as have ensured full utilization of Letter of Credit / Buyer’s Credit limits at its optimum level.

 

The company continued the last year’s policy of converting large value Orders into Direct Customers’ LC’s thereby showing increase in commission income to Rs. 79.330 Million As compares to last year Rs. 10.711 Million in year 2012-13.

 

OPERATIONS 2013-14:

 

A. RIGHT ISSUE:

The company has completed allotment of Equity Shares to Schiller AG, Switzerland resulting in their shareholding increasing from 50% to 61.54% and as per prevalent companies law rules and regulation, the company now becomes a subsidiary company of Schiller AG Switzerland.

 

B. BUSINESS:

The company has performed very well during the current year while there was an comparative slowdown of world economies. During the year, the company has continued efforts to strengthen Government Business. More than 50% of its turnover now comes from Government Tender. The Company’s own manufactured treadmill “Colt” has now been well received in the market. This has helped in the performance of the current year’s profitability.

 

C. RADIOLOGY:

In continuation of improvement the company had increased presence in the area to sell portable CT machines as the company had taken distributionship of Neurologica last year. This year they have managed to achieve a vital breakthrough in the selling of niche radiology products. The product has been well received inspite of being high-priced innovative machines for niche market.

 

D. EXPORT DIVISION:

The company had setup FTWZ at Arshiya in previous year. This has helped in managing effectively their export sales. The company has now applied for to open liaison office in Nepal to take care of its presence in this Himalayan country.

 

FINANCIAL ASSISTANCE FROM BANKS

 

The company has been able to get further enhancement in the fund and non-fund based working capital limits for its fast growing business from Bank of India as well as HDFC Bank Limited. The Board of Directors is indeed thankful to the Banks for their continued support.

 

VOULUNTARY COMPLIANCE CERTIFICATE U/S 383A

 

The company has voluntarily obtained Secretarial Compliance Certificate from a Practicing Company Secretary and the same has been a part of Annual Report for the Financial Year 2013-14.

 

CURRENT YEAR PLAN AND FUTURE OUTLOOK

 

As the company has crossed its bench mark turnover of Rs. 1000.000 Million. turnover during the current year as promised. To enable high volume of data and to enhance error free working environment, the company would implement ERP solutions in all areas of operation.

 

The will remember they had promised a newer version of Defigard Bi-phasic Defibrillator. Development work is going in full speed with their French colleagues and they plan to launch the new Defibrillator by end of next year. The company is also in the process of developing new Treadmills for local and international market.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Other loans and advances, others

31.050

73.500

Total

31.050

73.500

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10459411

22/11/2014 *

365,000,000.00

BANK OF INDIA

MUMBAI MAIN BRANCH,, 70/80, M. G. ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA

C36409522

2

10238090

13/10/2010 *

75,000,000.00

BANK OF INDIA

MUMBAI MAIN BRANCH, BOI BUILDING, GR FLOOR,, 70/8
0 M. G. ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001,
INDIA

A97491906

3

90158495

18/01/2013 *

85,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W
, MUMBAI, MAHARASHTRA - 400013, INDIA

B68044726

4

90158043

30/10/2002

5,000,000.00

BANK OF INDIA

MUMBAI CORPORATE BANKING BRANCH; 4TH FLOOR, 70/80
; M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400023, I
NDIA

-

5

90156974

21/11/2014 *

385,000,000.00

BANK OF INDIA

MUMBAI MAIN BRANCH,, 70/80, M. G. ROAD, FORT,, MU
MBAI, MAHARASHTRA - 400001, INDIA

C36410280

6

90156852

24/09/1999 *

15,000,000.00

BANK OF INDIA

MUMBAI CORPORATE BANKING BRANCH; 4TH FLOOR, 70/80
; M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400023, I
NDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.65.24

UK Pound

1

Rs.102.21

Euro

1

Rs.72.57

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

50

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.